US boosts budget by $278 billion through new tariffs on BRICS imports

The "reciprocal" tariffs recently announced by US President Donald Trump are set to boost the US budget by more than $278 billion annually, primarily from imports coming from BRICS countries (excluding Russia).

According to data from the US Customs Service, the US is implementing tariffs as part of a strategy to balance its trade deficit with these nations. The base tariff rate will start at 10%, but most trading partners will face higher tariffs, depending on the extent of the trade imbalance between the US and each country, Caliber.Az reports via foreign media.

For example, imports from Brazil will face a 10% tariff, India 26%, China 54%, South Africa 30%, Iran 10%, Egypt 10%, Ethiopia 10%, UAE 10%, and Indonesia 32%. However, Russia is excluded from this tariff plan, meaning its trade is not part of the calculation.

Based on 2024 import data, the US is projected to earn a staggering $278.4 billion per year from these tariffs. BRICS nations (excluding Russia) accounted for $621.9 billion in imports in 2024, with Russia included, the total reaches $624.9 billion.

The tariffs on China are expected to be the most lucrative for the US, with the amount from last year’s trade reaching $237 billion. Close behind are India, with $22.7 billion, and Indonesia, with nearly $9 billion. South Africa follows with $4.4 billion, Brazil at $4.2 billion, the UAE at $747 million, and Egypt at $254 million. The least revenue is expected from Ethiopia and Iran, with $46.6 million and $622,000, respectively.

This new tariff approach is poised to reshape US trade dynamics while putting a substantial dent in the trade surpluses of these BRICS nations.

By Tamilla Hasanova